Statkraft

Statkraft AS
Aksjeselskap
Industry Electricity
Founded 1986
Headquarters Oslo, Norway
Area served
 Norway
Key people
 Christian Rynning-Tønnesen (CEO)
Olav Fjeld (Chairman)
Revenue Increase NOK 52.2 billion (2014)
NOK 29.34 billion (2008)
NOK 16.61 billion (2008)
Number of employees
 4200 (2015)
Parent Norwegian Ministry of Petroleum and Energy
Website www.statkraft.com

Statkraft is a leading company in hydropower internationally, fully owned by the Norwegian state. The Statkraft Group is Europe’s largest generator of renewable energy, as well as Norway’s largest and the Nordic region’s third largest energy producer. Statkraft develops and generates hydropower, wind power, gas power and district heating, and is also a major player in the international energy markets. The company has some 4200 employees and their headquarter is located in Oslo, Norway.

History

The Norwegian state acquired its first ownership rights to a waterfall when they bought Paulenfossen in Southern Norway in 1895.

In 1921 The Norwegian Water Resources and Energy Directorate (NVE) was created to operate the nation's power plants. From 1950 to 1960, the state constructed large hydropower plants across the country.

In 1986 the power plants and central power grid were split off as Statskraftverkene, which was divided again in 1992 into Statkraft and Statnett. Statkraft SF was created as a government enterprise.

Through the 1990s and 2000s Statkraft acquired a number of local power plants in Norway in addition to expanding internationally. In 2004 Statkraft was reorganized as a limited company, Statkraft AS, still wholly owned by the state.

The international breakthrough

In 2007 Statkraft and E.ON signed a letter of intent to swap Statkraft's shares in E.ON Sweden in exchange for flexible power production assets and shares in E.ON. The total value of the asset swap was €4.4 billion. The transaction made Statkraft Europe's largest producer of renewable energy, marking 2008 the year of Statkraft's international breakthrough.

Statkraft today

Hydroelectric power provides the majority of Statkraft's renewable energy. The total annual power production was 56 TWh in 2014.[1]

The company is also a significant player in the European energy exchanges with cutting-edge expertise in physical and financial energy trading and origination.

In 2013, Statkraft began constructing the Devoll Hydropower project In south eastern Albania. It consists of three hydropower plants, Banja, Gramshi and Moglicë, to be built in the valley of Devoll, with an installed capacity of roughly 300 MW. Two plants are expected to be completed by mid 2016, with the third being completed by 2018. The total project is expected to cost more than 600 million euros. [2]

Energy sources

Hydropower

Hydropower is an environmental friendly and renewable energy source. 99% of all power production in Norway comes from hydropower. On a global basis, 1/6 of the power produced comes from hydropower.

In 2015, the production of hydropower takes place in more than 300 power plants worldwide. Most of these are in Norway, but the power plants are also located in:

Wind power

Wind power is a renewable and emission free energy resource. Statkraft has been active within wind power since 2002 when Smøla wind farm in Mid-Norway was opened. Smøla was at the time the largest onshore wind farm in Europe.

In 2015, Statkraft’s wind farms are based in:

Gas power

Gas fired power plants have the lowest CO2 emissions of all fossil fuel-based power plants, and can replace the far more polluting oil and coal-based electricity production.

Today, Statkraft owns four gas power plants in Germany and one in Norway.

In 2014 Statkraft announced that all future investments will be in renewable energy.

District heating

District heating is a separate energy system that forms a natural part of the energy supply for towns and cities and densely populated areas. District heating based on renewable energy sources has a positive environmental effect. Through the subsidiary Statkraft Varme, the Statkraft Group owns and operates a number of district heating plants in Norway and Sweden.

References

  1. ↑ "Annual Report 2014 | Statkraft". www.statkraft.com. Retrieved 2016-02-10.
  2. ↑ "Devoll Hydropower Project". Retrieved 2016-05-10.

Coordinates: 59°54′55.11″N 10°38′7.92″E / 59.9153083°N 10.6355333°E / 59.9153083; 10.6355333

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